Six Thai firms make FORBES list
Six Thai companies are listed by Forbes magazine as "Best under a Billion", which is a ranking of the 200 best publicly traded small companies in the Asia-Pacific region.
Lanna Resources, Master Ad, Qualitech, Sub Sri Thai, United Palm Oil Industry and Workpoint Entertainment reported combined revenue of US$561 million (Bt17.7 billion) last year, which was only 2 per cent of the aggregate sales value of those 200 companies.
According to Forbes, they are among 900 companies that generate annual revenue between $5 million and $1 billion, have positive net income and have been publicly traded for at least a year. From that pool of candidates, the magazine then weighed sales growth, earnings growth and return on equity in the past 12 months and over three years. Those that are thinly traded and those with accounting or major legal troubles were excluded.
In a statement, Forbes said that against the backdrop of a fragile global economy, the make-up of its "Best under a Billion" demonstrates why small and medium-size enterprises are considered essential to the Asia-Pacific region.
Sales of this year’s 200 SMEs from 15 countries grew by an average 48 per cent last year and generated $47 billion in revenue while employing 370,000 people. But despite their size and rapid ascent, these are not flash-in-the-pan businesses.
The average age is 24 years, publicly traded for nine years. Among the 200, there are 46 making their second appearance, and another 17 returning after a gap year. In total, 72 have appeared at least once on the list in the past decade.
"The Forbes ‘Best under a Billion’ list demonstrates why small and medium-sized companies continue to be the linchpin of Asia’s economic growth," said Tim Ferguson, editor of Forbes Asia. "Their diversity and dynamism bode well for the region, particularly at a time when the global economy is faltering."
The growth of listed entities in China has been fastest in the world in the years since the financial crisis, with 72 companies in China including Hong Kong on the list, up from 65 last year. India’s total on the list fell to 23 from 35 last year.
By industry, 23 are from the technology hardware and equipment sector, followed by software and services. Almost twice as many construction companies – 20 against 11 last year – made the list this year. Similarly, the number of companies in the food, drink and tobacco industry nearly doubled from 10 to 19.
